Get Salary Redirection Agreement

What is a Salary Reduction Agreement? A salary reduction agreement is a written legal agreement between a company and its employee outlining the terms of transferring percentages of the employee's salary to a 401(k), 403(b), or IRA retirement plan.

A redirection of benefit payment is where part or all of your benefit is paid to another person or organisation by the Ministry of Social Development. Requests for a redirection will only be approved in special circumstances and for good reason.

Salary Redirection Agreement means a written agreement signed by the Participant voluntarily agreeing to reduce his/her Compensation for the purpose of paying premiums for the Group Medical Insurance Plans and/or the Group Disability Plans. Sample 1.

Salary Reduction Agreement means an agreement between the Employer and an Eligible Employee as set forth in Sections 3.01(b) and 5.04 pursuant to which the Eligible Employee authorizes the Employer to withhold a specified percentage of his or her Compensation (otherwise payable in cash) for deposit to the Plan on ...

What is a Salary Reduction Agreement? A salary reduction agreement is a written legal agreement between a company and its employee outlining the terms of transferring percentages of the employee's salary to a 401(k), 403(b), or IRA retirement plan.

Salary Redirection means the amount by which an Eligible Employee elects to have his or her Compensation reduced in an amount sufficient to fund the Benefits such Eligible Employee has elected to receive under the Plan, subject to the terms, conditions and restrictions provided in the Plan.

Employer contributions to the cafeteria plan are usually made pursuant to salary reduction agreements between the employer and the employee in which the employee agrees to contribute a portion of his or her salary on a pre-tax basis to pay for the qualified benefits.